The chloralkali market was anticipated at about USD 70, 407 million in 2014. It is predicted at around USD 93, 936 million by 2019. The market is projected to register about 6 percent CAGR during 2014 to 2019. The chloralkali market generates bulk chemicals used across various applications in different industry verticals. These chemicals are needed in processing of food, construction, plastics, treatment of water, etc.
The worldwide chloralkali market is divided on the basis of applications and geography. It is segmented on the basis of applications into caustic soda, chlorine, soda ash, etc. The four geographical regions of this market are Europe, Asia Pacific, North America and rest of the world. One of the important factors that drives demand for the chloralkali market is the escalating demand for chloralkali from the industries of automobiles and construction.
The growing uses of chloralkali in the industries of pulp, food and paper also propel the market further. The market is witnessing reasonable expansion in North America and Asia Pacific. This owes to escalating demand for chloralkalis in chemical and construction industries. Chloralkali is a manufacturing procedure that generates chlorine, caustic soda, and other products based on sodium and chlorine.
The primary application areas of chlorine are polyvinyl chloride and organic chemicals. The application area of soda ash is glass industry. Caustic soda finds applications in the paper industry and organic and inorganic chemicals. The chloralkali market is estimated to witness imperative expansion in the coming years. This expansion is anticipated to be driven by developing regions, like China and India.
The chloralkali market is prevented from progressing further by the ecological impact of this procedure.
Information Source: Grand View Research